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[size=36]The Central Bank defines two sections for housing loan outlets and a ceiling for electronic card withdrawal amounts[/size]
Economy| 09:11 - 04/04/2023
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Baghdad - Mawazine News
Today, Tuesday, the Central Bank of Iraq announced measures to prevent currency smuggling, and set the ceiling for the amounts allowed to be withdrawn from electronic cards outside Iraq, and pointed out that the outlets for providing loans for the purchase of housing units are divided into two parts.
And the central bank said in a statement, “There is cooperation by the central bank with the competent security authorities to prevent such practices,” noting that “there is a directive for banks to limit withdrawals from electronic cards outside Iraq at a rate of $ 250 per day to prevent illicit gain and withdraw dollars in a way that affects on the Iraqi economy.
Regarding the increase in the volume of loans, the bank affirmed that "the housing loan initiative provided to the Housing Fund for the purpose of construction and the Real Estate Bank for the purpose of purchase is still continuing."
He added, "There is no direction by the bank to stop this initiative, and it continues with its initiative to support the liquidity of the housing sector (the housing fund and the real estate bank) to lend to citizens and employees wishing to buy housing units throughout Iraq."
He pointed out that "the outlets for providing loans are divided into two types, the first of which is the Housing Fund loans, which are in the amount of (75) million dinars to build housing units with an area of not less than (100) square meters or to add a building in Baghdad and the provincial centers, and loans in the amount of (60) ) One million dinars in the districts of the capital, Baghdad, and (50) million dinars outside the centers of the rest of the governorates, and loans in the amount of (75) million dinars to purchase housing units in investment residential complexes, and the loan will be without interest except for a one-time administrative commission of (5%) of the value of The loan has a repayment period not exceeding (20) years, to facilitate the value of the monthly installment.
He added, "The other section is represented by real estate bank loans in the amount of (100) million dinars to purchase housing units outside investment housing complexes with an area of no less than (100) square meters. Not exceeding (20) years, and loans in the amount of (125) million dinars to purchase housing units in residential investment complexes, and these loans will be without interest, provided that a one-time administrative commission of (5%) of the loan value is deducted and a repayment period does not exceed (20) year".
And the central bank said in a statement, “There is cooperation by the central bank with the competent security authorities to prevent such practices,” noting that “there is a directive for banks to limit withdrawals from electronic cards outside Iraq at a rate of $ 250 per day to prevent illicit gain and withdraw dollars in a way that affects on the Iraqi economy.
Regarding the increase in the volume of loans, the bank affirmed that "the housing loan initiative provided to the Housing Fund for the purpose of construction and the Real Estate Bank for the purpose of purchase is still continuing."
He added, "There is no direction by the bank to stop this initiative, and it continues with its initiative to support the liquidity of the housing sector (the housing fund and the real estate bank) to lend to citizens and employees wishing to buy housing units throughout Iraq."
He pointed out that "the outlets for providing loans are divided into two types, the first of which is the Housing Fund loans, which are in the amount of (75) million dinars to build housing units with an area of not less than (100) square meters or to add a building in Baghdad and the provincial centers, and loans in the amount of (60) ) One million dinars in the districts of the capital, Baghdad, and (50) million dinars outside the centers of the rest of the governorates, and loans in the amount of (75) million dinars to purchase housing units in investment residential complexes, and the loan will be without interest except for a one-time administrative commission of (5%) of the value of The loan has a repayment period not exceeding (20) years, to facilitate the value of the monthly installment.
He added, "The other section is represented by real estate bank loans in the amount of (100) million dinars to purchase housing units outside investment housing complexes with an area of no less than (100) square meters. Not exceeding (20) years, and loans in the amount of (125) million dinars to purchase housing units in residential investment complexes, and these loans will be without interest, provided that a one-time administrative commission of (5%) of the loan value is deducted and a repayment period does not exceed (20) year".
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